SAS and Amdocs partner for intelligent retail product delivery

Source: SAS

SAS, the leader in business intelligence, and Amdocs (NYSE: DOX), the leading provider of software and services to enable integrated customer management and the intentional customer experience, today announced that they are working together to bring the SAS and Amdocs Dynamic Pricing and Profitability Management (DPPM) solution to market.

This solution will help retail banks differentiate themselves by delivering customized bundles of products to consumers. As a result, banks will build more profitable customer relationships and increase customer loyalty. The announcement was made today at the BAI Retail Delivery Conference and Expo in Las Vegas (Booth 2435).

"Banking customers need tangible economic incentives for increasing the business they award to your bank," explained Susan Landry, Managing Vice President at Gartner Research and Advisory Services. "Financial institutions continue to take CRM seriously as reflected in IT investment in channels, branches and customer intelligence. However, breakthrough solutions in dynamic pricing and product configurations will drive the next wave of mutual economic and relationship value for both the customer and the provider."

"By allowing banks to incorporate valuable customer data into their own product management software, this solution will give banks a whole new way of delivering bundles of products," said Mike Blum, President of the Financial Services Division at Amdocs. "Banks that adopt this solution can stand out among the competition and ultimately enjoy increased profitability."

By integrating with core banking and other enterprise applications such as customer relationship and risk management, the DPPM solution will help banks craft bundles of products and price them in real time. As part of the solution, banks will have an enterprisewide view of customers by leveraging the SAS® Banking Intelligence Architecture. They will also be able to offer flexible pricing plans and deliver consolidated statements by leveraging Amdocs' dynamic pricing engine and product catalog. While banks today can create product bundles, they are extremely difficult to change and customize.

"SAS' best-in-class, integrated analytical banking intelligence platform and Amdocs' product catalog and dynamic pricing engine give banks the required flexibility to change pricing and product bundles so they can develop and sustain a personalized approach for customers," said Ellen Joyner, Global Financial Services Marketing Manager for SAS.

The DPPM solution's full product management platform will also offer mutual economic benefits for banks and their customers. For example, the bank will be able to create a bundle that includes free checking with a savings account with a $2500 minimum, but if you add a car loan you get a 0.25 percent bonus for the savings account. The additional incentive pricing is determined by analyzing behavior and profitability by customer, product, branch and line of business.

"SAS and Amdocs have joined forces to develop a unique solution which not only will offer the level of flexibility and customization financial institutions require for long-term success with their customers but also will support the tracking of increased profitability as it occurs," said Greg Nolan, CEO of GJ Nolan & Co., a management consulting firm specializing in profitability measurement and management.

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